El Paso leads Texas with percentage increase in sales, but prices are terrible
February 2, 2010
Sales in December 2009 are up 22 percent from 363 to 444 in El Paso. This market is remarkable as they are even up 23 percent from 2007’s 362 sales. El Paso is the only big market in Texas to show this type of growth.
| Year | Month | House Sales | 1 Yr Change | 2 Yr Change | Average Home Price | % Price Change | Median Home Price | % 1 Yr Change | Active Listings | % 1 Yr Change | Months of Inventory |
| 2007 | Dec | 362 | 153,600 | 133,500 | 4,625 | 12.776 | |||||
| 2008 | Jan | 299 | -0.39 | 158,700 | 0.11 | 133,200 | 0.07 | 4,254 | 0.67 | 14.227 | |
| 2008 | Feb | 328 | -0.35 | 162,800 | 0.08 | 133,800 | 0.08 | 4,374 | 0.57 | 13.335 | |
| 2008 | Mar | 419 | -0.32 | 157,900 | 0.02 | 128,700 | 0 | 4,714 | 2.71 | 11.25 | |
| 2008 | Apr | 292 | -0.55 | 152,400 | 0.01 | 126,700 | -0.01 | 4,840 | 0.49 | 16.575 | |
| 2008 | May | 429 | -0.33 | 164,200 | 0.08 | 137,800 | 0.06 | 5,155 | 0.63 | 12.016 | |
| 2008 | Jun | 487 | -0.2 | 168,800 | 0.01 | 142,800 | 0.03 | 5,127 | 0.43 | 10.527 | |
| 2008 | Jul | 502 | -0.12 | 161,700 | 0.01 | 138,500 | 0.03 | 5,012 | 0.32 | 9.984 | |
| 2008 | Aug | 433 | -0.22 | 160,500 | -0.03 | 133,300 | -0.04 | 5,085 | 0.31 | 11.743 | |
| 2008 | Sep | 449 | 0.1 | 159,400 | 0.02 | 134,300 | -0.01 | 5,096 | 0.27 | 11.349 | |
| 2008 | Oct | 413 | -0.06 | 158,500 | 0.01 | 130,500 | 0 | 5,040 | 0.16 | 12.203 | |
| 2008 | Nov | 362 | -0.06 | 156,100 | -0.06 | 132,800 | -0.01 | 4,773 | 0.11 | 13.185 | |
| 2008 | Dec | 363 | 0 | 159,900 | 0.04 | 136,300 | 0.02 | 4,454 | -0.04 | 12.269 | |
| 2009 | Jan | 304 | 0.02 | -0.38 | 157,700 | -0.01 | 126,900 | -0.05 | 4,499 | 0.06 | 14.799 |
| 2009 | Feb | 326 | -0.01 | -0.35 | 152,600 | -0.06 | 130,900 | -0.02 | 4,530 | 0.04 | 13.895 |
| 2009 | Mar | 435 | 0.04 | -0.29 | 154,500 | -0.02 | 133,500 | 0.04 | 4,578 | -0.03 | 10.524 |
| 2009 | Apr | 381 | 0.3 | -0.41 | 155,500 | 0.02 | 128,100 | 0.01 | 3,982 | -0.18 | 10.451 |
| 2009 | May | 440 | 0.03 | -0.31 | 148,700 | -0.09 | 126,800 | -0.08 | 3,940 | -0.24 | 8.954 |
| 2009 | Jun | 481 | -0.01 | -0.21 | 156,300 | -0.07 | 134,500 | -0.06 | 3,749 | -0.27 | 7.794 |
| 2009 | Jul | 478 | -0.05 | -0.17 | 157,100 | -0.03 | 135,200 | -0.02 | 3,704 | -0.26 | 7.748 |
| 2009 | Aug | 485 | 0.12 | -0.12 | 150,100 | -0.06 | 129,600 | -0.03 | 3,681 | -0.28 | 7.589 |
| 2009 | Sep | 485 | 0.08 | 0.19 | 151,200 | -0.05 | 130,000 | -0.03 | 3,610 | -0.29 | 7.443 |
| 2009 | Oct | 541 | 0.31 | 0.23 | 149,200 | -0.06 | 131,000 | 0 | 3,580 | -0.29 | 6.617 |
| 2009 | Nov | 570 | 0.57 | 0.47 | 147,800 | -0.05 | 131,900 | -0.01 | 3,549 | -0.26 | 6.226 |
| 2009 | Dec | 444 | 0.22 | 0.23 | 154,200 | -0.04 | 135,000 | -0.01 | - | -1 | 0 |
| Year | Month | House Sales | 1 Yr Change | 2 Yr Change | Average Home Price | % Price Change | Median Home Price | % 1 Yr Change | Active Listings | % 1 Yr Change | Months of Inventory |
Prices, on the other hand, continue to lag suggesting there are a lot of sales in the low end of the market. The average home sale’s price was $154,200 in December 2009, which is a 4 percent drop from $159,900 in December 2008. Additionally, it is the eighth month in a row with a negative yearly change. The median home price was 1 percent lower than its 2008 counterpart dropping to $135,000 from $136,300. It is also the eighth month with a decline.
El Paso distribution shifts toward low and moderately priced homes
December 5, 2009
El Paso continues to show a shift toward moderate and low priced homes. Recently released data, running through October 2009, suggest end of year trends will reveal vast increases in low priced homes and healthy increases in middle priced homes, see table.
| El Paso | |||||
| Price Range | Percent Distribution | # of Sales | |||
| 2008 | 2009* | 2008 | 2009* | Change | |
| $29,999 or less | 0.1 | 0.3 | 5 | 13 | 173.62% |
| 30,000 - 39,999 | 0.3 | 0.4 | 14 | 17 | 21.61% |
| 40,000 - 49,999 | 0.6 | 0.5 | 29 | 22 | -23.99% |
| 50,000 - 59,999 | 1.2 | 1.4 | 57 | 61 | 6.41% |
| 60,000 - 69,999 | 1.7 | 2.4 | 81 | 105 | 28.76% |
| 70,000 - 79,999 | 4.1 | 4.2 | 196 | 183 | -6.57% |
| 80,000 - 89,999 | 6.8 | 5.9 | 325 | 257 | -20.87% |
| 90,000 - 99,999 | 8.1 | 7.6 | 387 | 331 | -14.42% |
| Under 100k | 22.9 | 22.7 | 1,094 | 989 | -9.59% |
| 100k - 119,999 | 15.8 | 18 | 755 | 784 | 3.91% |
| 120k - 139,999 | 15.5 | 16.7 | 740 | 727 | -1.73% |
| 140k - 159,999 | 10.3 | 11 | 492 | 479 | -2.60% |
| 100k - 160k | 41.6 | 45.7 | 1,987 | 1,991 | 0.20% |
| 160k - 179,999 | 8.8 | 7.7 | 420 | 335 | -20.19% |
| 180k - 199,999 | 5.7 | 5.5 | 272 | 240 | -11.99% |
| 200k - 249,999 | 9 | 9.1 | 430 | 396 | -7.78% |
| 250k - 299,999 | 5.1 | 4.2 | 244 | 183 | -24.89% |
| 300k - 399,999 | 4.3 | 3.1 | 205 | 135 | -34.25% |
| 400k - 499,999 | 1.4 | 1 | 67 | 44 | -34.85% |
| 500k and more | 1.2 | 1.1 | 57 | 48 | -16.39% |
Almost every category under $80,000 shows an increase in marketshare over 2008. With only 10 months of data, there is already a dramatic increase in the number of homes sold under $40,000 and between $60,000 and $70,000. There is also a minimal increase in numbers between $50,000 and $60,000.
The other area of increase is middle priced homes. The homes between $100,000 and $159,000 increased their marketshare over 2008, with homes between $100,000 to $120,000 already exceeded the numbers posted last year.
El Paso’s October is bright spot for state
December 1, 2009
El Paso’s home sale gains continue to exceed the other large markets in Texas. There were 541 homes sold in October 2009, which is the highest number since August 2007. Not only that, but they were 31 percent higher than October 2008 and 23 percent higher than 2007, as seen below.
| Year | Month | House Sales | 1 Yr Change | 2 Yr Change | Average Home Price | % Price Change | Median Home Price | % 1 Yr Change | Active Listings | % 1 Yr Change | Months of Inventory |
| 2007 | Jan | 492 | 142,500 | 124,800 | 2,554 | 5.191 | |||||
| 2007 | Feb | 503 | 151,300 | 124,000 | 2,787 | 5.54 | |||||
| 2007 | Mar | 612 | 155,100 | 129,200 | 1,272 | 2.078 | |||||
| 2007 | Apr | 642 | 150,600 | 128,100 | 3,241 | 5.048 | |||||
| 2007 | May | 640 | 152,400 | 130,200 | 3,159 | 4.935 | |||||
| 2007 | Jun | 607 | 166,400 | 138,900 | 3,589 | 5.912 | |||||
| 2007 | Jul | 573 | 160,200 | 134,200 | 3,791 | 6.616 | |||||
| 2007 | Aug | 554 | 165,300 | 138,900 | 3,874 | 6.992 | |||||
| 2007 | Sep | 409 | 156,500 | 136,000 | 4,024 | 9.838 | |||||
| 2007 | Oct | 439 | 156,400 | 130,900 | 4,337 | 9.879 | |||||
| 2007 | Nov | 387 | 166,200 | 133,600 | 4,292 | 11.09 | |||||
| 2007 | Dec | 362 | 153,600 | 133,500 | 4,625 | 12.776 | |||||
| 2008 | Jan | 299 | -0.39 | 158,700 | 0.11 | 133,200 | 0.07 | 4,254 | 0.67 | 14.227 | |
| 2008 | Feb | 328 | -0.35 | 162,800 | 0.08 | 133,800 | 0.08 | 4,374 | 0.57 | 13.335 | |
| 2008 | Mar | 419 | -0.32 | 157,900 | 0.02 | 128,700 | 0 | 4,714 | 2.71 | 11.25 | |
| 2008 | Apr | 292 | -0.55 | 152,400 | 0.01 | 126,700 | -0.01 | 4,840 | 0.49 | 16.575 | |
| 2008 | May | 429 | -0.33 | 164,200 | 0.08 | 137,800 | 0.06 | 5,155 | 0.63 | 12.016 | |
| 2008 | Jun | 487 | -0.2 | 168,800 | 0.01 | 142,800 | 0.03 | 5,127 | 0.43 | 10.527 | |
| 2008 | Jul | 502 | -0.12 | 161,700 | 0.01 | 138,500 | 0.03 | 5,012 | 0.32 | 9.984 | |
| 2008 | Aug | 433 | -0.22 | 160,500 | -0.03 | 133,300 | -0.04 | 5,085 | 0.31 | 11.743 | |
| 2008 | Sep | 449 | 0.1 | 159,400 | 0.02 | 134,300 | -0.01 | 5,096 | 0.27 | 11.349 | |
| 2008 | Oct | 413 | -0.06 | 158,500 | 0.01 | 130,500 | 0 | 5,040 | 0.16 | 12.203 | |
| 2008 | Nov | 362 | -0.06 | 156,100 | -0.06 | 132,800 | -0.01 | 4,773 | 0.11 | 13.185 | |
| 2008 | Dec | 363 | 0 | 159,900 | 0.04 | 136,300 | 0.02 | 4,454 | -0.04 | 12.269 | |
| 2009 | Jan | 304 | 0.02 | -0.38 | 157,700 | -0.01 | 126,900 | -0.05 | 4,499 | 0.06 | 14.799 |
| 2009 | Feb | 326 | -0.01 | -0.35 | 152,600 | -0.06 | 130,900 | -0.02 | 4,530 | 0.04 | 13.895 |
| 2009 | Mar | 435 | 0.04 | -0.29 | 154,500 | -0.02 | 133,500 | 0.04 | 4,578 | -0.03 | 10.524 |
| 2009 | Apr | 381 | 0.3 | -0.41 | 155,500 | 0.02 | 128,100 | 0.01 | 3,982 | -0.18 | 10.451 |
| 2009 | May | 440 | 0.03 | -0.31 | 148,700 | -0.09 | 126,800 | -0.08 | 3,940 | -0.24 | 8.954 |
| 2009 | Jun | 481 | -0.01 | -0.21 | 156,300 | -0.07 | 134,500 | -0.06 | 3,749 | -0.27 | 7.794 |
| 2009 | Jul | 478 | -0.05 | -0.17 | 157,100 | -0.03 | 135,200 | -0.02 | 3,704 | -0.26 | 7.748 |
| 2009 | Aug | 485 | 0.12 | -0.12 | 150,100 | -0.06 | 129,600 | -0.03 | 3,681 | -0.28 | 7.589 |
| 2009 | Sep | 485 | 0.08 | 0.19 | 151,200 | -0.05 | 130,000 | -0.03 | 3,610 | -0.29 | 7.443 |
| 2009 | Oct | 541 | 0.31 | 0.23 | 149,200 | -0.06 | 131,000 | 0 | 3,580 | -0.29 | 6.617 |
Average and median prices are not making the strides that sales are, but sales are probably making these strides because the prices are decreasing. The average home price of $149,200 was 6 percent lower than in October 2008’s $158,500. The median home price of $131,000 remained constant from last October. It is the highest price this quarter, too.
Price distribution of El Paso home sales
November 10, 2009
Data from the first three quarters of 2009 have been released for the price distribution of home sales in El Paso, see table below.
| El Paso | |||||
| Price Range | Percent Distribution | # of Sales | |||
| 2008 | 2009* | 2008 | 2009* | Change | |
| $29,999 or less | 0.1 | 0.3 | 4.78 | 11.45 | 139.64% |
| 30,000 - 39,999 | 0.3 | 0.4 | 14.33 | 15.26 | 6.50% |
| 40,000 - 49,999 | 0.6 | 0.5 | 28.66 | 19.08 | -33.43% |
| 50,000 - 59,999 | 1.2 | 1.4 | 57.31 | 53.41 | -6.81% |
| 60,000 - 69,999 | 1.7 | 2.5 | 81.19 | 95.38 | 17.47% |
| 70,000 - 79,999 | 4.1 | 4.2 | 195.82 | 160.23 | -18.17% |
| 80,000 - 89,999 | 6.8 | 6 | 324.77 | 228.90 | -29.52% |
| 90,000 - 99,999 | 8.1 | 7.4 | 386.86 | 282.31 | -27.02% |
| Under 100k | 22.9 | 22.7 | 1093.70 | 866.01 | -20.82% |
| 100k - 119,999 | 15.8 | 18.2 | 754.61 | 694.33 | -7.99% |
| 120k - 139,999 | 15.5 | 16.1 | 740.28 | 614.22 | -17.03% |
| 140k - 159,999 | 10.3 | 11 | 491.93 | 419.65 | -14.69% |
| 100k - 160,000 | 41.6 | 45.3 | 1986.82 | 1728.20 | -13.02% |
| 160k - 179,999 | 8.8 | 7.8 | 420.29 | 297.57 | -29.20% |
| 180k - 199,999 | 5.7 | 5.7 | 272.23 | 217.46 | -20.12% |
| 200k - 249,999 | 9 | 9 | 429.84 | 343.35 | -20.12% |
| 250k - 299,999 | 5.1 | 4.2 | 243.58 | 160.23 | -34.22% |
| 300k - 399,999 | 4.3 | 3.2 | 205.37 | 122.08 | -40.56% |
| 400k - 499,999 | 1.4 | 1.1 | 66.86 | 41.97 | -37.24% |
| 500k and more | 1.2 | 1.1 | 57.31 | 41.97 | -26.78% |
For now the percentages offer interesting speculation on trends. The true comparison will only come once the last quarter’s data are received. One emerging trend is the increase in moderately priced homes. The homes priced between $100,000 and $119,999 has the highest distribution jump seen not only in El Paso’s 2009, but also across the state’s largest markets. All the price categories from $100,000 to $160,000 show an increase. Extremely low priced homes are also absorbing a larger part of the market share, but none of the categories jumped the previously discussed one.
Mixed result for August 2009: Sales Up, Prices Down
October 2, 2009
August 2009’s 485 home sales were 15 percent higher than August 2008’s 433 sales. Although sales were 12 percent down from August 2007’s 554 sales, El Paso’s August managed to not only be the top sales month of the summer, but also the year.
| Year | Month | Homes Sold | One Year Change | Two Year Change | Average Price | One Year Change | Median Price | One Year Change | Active Listings | One Year Change | Months of Inventory |
| 2007 | Aug | 554 | 165,300 | 138,900 | 3,874 | 6.992 | |||||
| 2007 | Sep | 409 | 156,500 | 136,000 | 4,024 | 9.838 | |||||
| 2007 | Oct | 439 | 156,400 | 130,900 | 4,337 | 9.879 | |||||
| 2007 | Nov | 387 | 166,200 | 133,600 | 4,292 | 11.09 | |||||
| 2007 | Dec | 362 | 153,600 | 133,500 | 4,625 | 12.776 | |||||
| 2008 | Jan | 299 | -0.39 | 158,700 | 0.11 | 133,200 | 0.07 | 4,254 | 0.67 | 14.227 | |
| 2008 | Feb | 328 | -0.35 | 162,800 | 0.08 | 133,800 | 0.08 | 4,374 | 0.57 | 13.335 | |
| 2008 | Mar | 419 | -0.32 | 157,900 | 0.02 | 128,700 | 0 | 4,714 | 2.71 | 11.25 | |
| 2008 | Apr | 292 | -0.55 | 152,400 | 0.01 | 126,700 | -0.01 | 4,840 | 0.49 | 16.575 | |
| 2008 | May | 429 | -0.33 | 164,200 | 0.08 | 137,800 | 0.06 | 5,155 | 0.63 | 12.016 | |
| 2008 | Jun | 487 | -0.2 | 168,800 | 0.01 | 142,800 | 0.03 | 5,127 | 0.43 | 10.527 | |
| 2008 | Jul | 502 | -0.12 | 161,700 | 0.01 | 138,500 | 0.03 | 5,012 | 0.32 | 9.984 | |
| 2008 | Aug | 433 | -0.22 | 160,500 | -0.03 | 133,300 | -0.04 | 5,085 | 0.31 | 11.743 | |
| 2008 | Sep | 449 | 0.1 | 159,400 | 0.02 | 134,300 | -0.01 | 5,096 | 0.27 | 11.349 | |
| 2008 | Oct | 413 | -0.06 | 158,500 | 0.01 | 130,500 | 0 | 5,040 | 0.16 | 12.203 | |
| 2008 | Nov | 362 | -0.06 | 156,100 | -0.06 | 132,800 | -0.01 | 4,773 | 0.11 | 13.185 | |
| 2008 | Dec | 363 | 0 | 159,900 | 0.04 | 136,300 | 0.02 | 4,454 | -0.04 | 12.269 | |
| 2009 | Jan | 304 | 0.02 | -0.38 | 157,700 | -0.01 | 126,900 | -0.05 | 4,499 | 0.06 | 14.799 |
| 2009 | Feb | 326 | -0.01 | -0.35 | 152,600 | -0.06 | 130,900 | -0.02 | 4,530 | 0.04 | 13.895 |
| 2009 | Mar | 435 | 0.04 | -0.29 | 154,500 | -0.02 | 133,500 | 0.04 | 4,578 | -0.03 | 10.524 |
| 2009 | Apr | 381 | 0.3 | -0.41 | 155,500 | 0.02 | 128,100 | 0.01 | 3,982 | -0.18 | 10.451 |
| 2009 | May | 440 | 0.03 | -0.31 | 148,700 | -0.09 | 126,800 | -0.08 | 3,940 | -0.24 | 8.954 |
| 2009 | Jun | 481 | -0.01 | -0.21 | 156,300 | -0.07 | 134,500 | -0.06 | 3,749 | -0.27 | 7.794 |
| 2009 | Jul | 478 | -0.05 | -0.17 | 157,100 | -0.03 | 135,200 | -0.02 | 3,704 | -0.26 | 7.748 |
| 2009 | Aug | 485 | 0.12 | -0.12 | 150,100 | -0.06 | 129,600 | -0.03 | 3,681 | -0.28 | 7.589 |
| Year | Month | House Sales | 1 Yr Change | 2 Yr Change | Average Home Price | % Price Change | Median Home Price | % 1 Yr Change | Active Listings | % 1 Yr Change | Months of Inventory |
Prices were not as a positive. The average home price of $150,100 was the lowest of the summer, and six percent lower than August 2008. The median home price of $129,600 was 3 percent lower than August’s 2008 counterpart, and the lowest of the summer. Although El Paso’s number of sales suggests a possible recovery, the low home prices might indicate people selling homes below the true worth to shed the financial responsibility.
El Paso struggles to meet 2008 sales numbers and prices
September 9, 2009
El Paso had 478 home sales in July 2009. This is a 5 percent drop from July 2008’s 502 sales, and a 17 percent drop from July 2007’s 573 sales. July had three less home sales than June 2009.
| Year | Month | House Sales | 1 Yr Change | 2 Yr Change | Average Home Price | % Price Change | Median Home Price | % 1 Yr Change | Active Listings | % 1 Yr Change | Months of Inventory |
| 2007 | Jan | 492 | 142,500 | 124,800 | 2,554 | 5.191 | |||||
| 2007 | Feb | 503 | 151,300 | 124,000 | 2,787 | 5.54 | |||||
| 2007 | Mar | 612 | 155,100 | 129,200 | 1,272 | 2.078 | |||||
| 2007 | Apr | 642 | 150,600 | 128,100 | 3,241 | 5.048 | |||||
| 2007 | May | 640 | 152,400 | 130,200 | 3,159 | 4.935 | |||||
| 2007 | Jun | 607 | 166,400 | 138,900 | 3,589 | 5.912 | |||||
| 2007 | Jul | 573 | 160,200 | 134,200 | 3,791 | 6.616 | |||||
| 2007 | Aug | 554 | 165,300 | 138,900 | 3,874 | 6.992 | |||||
| 2007 | Sep | 409 | 156,500 | 136,000 | 4,024 | 9.838 | |||||
| 2007 | Oct | 439 | 156,400 | 130,900 | 4,337 | 9.879 | |||||
| 2007 | Nov | 387 | 166,200 | 133,600 | 4,292 | 11.09 | |||||
| 2007 | Dec | 362 | 153,600 | 133,500 | 4,625 | 12.776 | |||||
| 2008 | Jan | 299 | -0.39 | 158,700 | 0.11 | 133,200 | 0.07 | 4,254 | 0.67 | 14.227 | |
| 2008 | Feb | 328 | -0.35 | 162,800 | 0.08 | 133,800 | 0.08 | 4,374 | 0.57 | 13.335 | |
| 2008 | Mar | 419 | -0.32 | 157,900 | 0.02 | 128,700 | 0 | 4,714 | 2.71 | 11.25 | |
| 2008 | Apr | 292 | -0.55 | 152,400 | 0.01 | 126,700 | -0.01 | 4,840 | 0.49 | 16.575 | |
| 2008 | May | 429 | -0.33 | 164,200 | 0.08 | 137,800 | 0.06 | 5,155 | 0.63 | 12.016 | |
| 2008 | Jun | 487 | -0.2 | 168,800 | 0.01 | 142,800 | 0.03 | 5,127 | 0.43 | 10.527 | |
| 2008 | Jul | 502 | -0.12 | 161,700 | 0.01 | 138,500 | 0.03 | 5,012 | 0.32 | 9.984 | |
| 2008 | Aug | 433 | -0.22 | 160,500 | -0.03 | 133,300 | -0.04 | 5,085 | 0.31 | 11.743 | |
| 2008 | Sep | 449 | 0.1 | 159,400 | 0.02 | 134,300 | -0.01 | 5,096 | 0.27 | 11.349 | |
| 2008 | Oct | 413 | -0.06 | 158,500 | 0.01 | 130,500 | 0 | 5,040 | 0.16 | 12.203 | |
| 2008 | Nov | 362 | -0.06 | 156,100 | -0.06 | 132,800 | -0.01 | 4,773 | 0.11 | 13.185 | |
| 2008 | Dec | 363 | 0 | 159,900 | 0.04 | 136,300 | 0.02 | 4,454 | -0.04 | 12.269 | |
| 2009 | Jan | 304 | 0.02 | -0.38 | 157,700 | -0.01 | 126,900 | -0.05 | 4,499 | 0.06 | 14.799 |
| 2009 | Feb | 326 | -0.01 | -0.35 | 152,600 | -0.06 | 130,900 | -0.02 | 4,530 | 0.04 | 13.895 |
| 2009 | Mar | 435 | 0.04 | -0.29 | 154,500 | -0.02 | 133,500 | 0.04 | 4,578 | -0.03 | 10.524 |
| 2009 | Apr | 381 | 0.3 | -0.41 | 155,500 | 0.02 | 128,100 | 0.01 | 3,982 | -0.18 | 10.451 |
| 2009 | May | 440 | 0.03 | -0.31 | 148,700 | -0.09 | 126,800 | -0.08 | 3,940 | -0.24 | 8.954 |
| 2009 | Jun | 481 | -0.01 | -0.21 | 156,300 | -0.07 | 134,500 | -0.06 | 3,749 | -0.27 | 7.794 |
| 2009 | Jul | 478 | -0.05 | -0.17 | 157,100 | -0.03 | 135,200 | -0.02 | 3,704 | -0.26 | 7.748 |
Home prices also declined in the market from one year ago. The average home price continues a steady climb starting in May, which brings El Paso’s average price back to January 2009 levels; however, it does not bring El Paso back to July 2008 levels. The average home price in July 2008 was $168,800, and in 2009 it was $157,100. The median home price in July 2008 was $138,500, and in 2009 it was $135,200. These are 3 and 2 percent drops, respectively.
No relief for June 2009 El Paso real estate market
July 31, 2009
El Paso gained 41 sales for June 2009’s 481 over May 2009’s 440 home sales; however, this is the first month in a quarter where the home sales were not a gain over the preceding year’s counterpart. June 2009 sales were down 1 percent from June 2008’s 487 sales. They were also down 21 percent from the 607 sales in June 2007. This is the lowest loss for 2009.
| Year | Month | House Sales | 1 Yr Change | 2 Yr Change | Average Home Price | % Price Change | Median Home Price | % 1 Yr Change | Active Listings | % 1 Yr Change | Months of Inventory |
| 2007 | Jan | 492 | 142,500 | 124,800 | 2,554 | 5.191 | |||||
| 2007 | Feb | 503 | 151,300 | 124,000 | 2,787 | 5.54 | |||||
| 2007 | Mar | 612 | 155,100 | 129,200 | 1,272 | 2.078 | |||||
| 2007 | Apr | 642 | 150,600 | 128,100 | 3,241 | 5.048 | |||||
| 2007 | May | 640 | 152,400 | 130,200 | 3,159 | 4.935 | |||||
| 2007 | Jun | 607 | 166,400 | 138,900 | 3,589 | 5.912 | |||||
| 2007 | Jul | 573 | 160,200 | 134,200 | 3,791 | 6.616 | |||||
| 2007 | Aug | 554 | 165,300 | 138,900 | 3,874 | 6.992 | |||||
| 2007 | Sep | 409 | 156,500 | 136,000 | 4,024 | 9.838 | |||||
| 2007 | Oct | 439 | 156,400 | 130,900 | 4,337 | 9.879 | |||||
| 2007 | Nov | 387 | 166,200 | 133,600 | 4,292 | 11.09 | |||||
| 2007 | Dec | 362 | 153,600 | 133,500 | 4,625 | 12.776 | |||||
| 2008 | Jan | 299 | -0.39 | 158,700 | 0.11 | 133,200 | 0.07 | 4,254 | 0.67 | 14.227 | |
| 2008 | Feb | 328 | -0.35 | 162,800 | 0.08 | 133,800 | 0.08 | 4,374 | 0.57 | 13.335 | |
| 2008 | Mar | 419 | -0.32 | 157,900 | 0.02 | 128,700 | 0 | 4,714 | 2.71 | 11.25 | |
| 2008 | Apr | 292 | -0.55 | 152,400 | 0.01 | 126,700 | -0.01 | 4,840 | 0.49 | 16.575 | |
| 2008 | May | 429 | -0.33 | 164,200 | 0.08 | 137,800 | 0.06 | 5,155 | 0.63 | 12.016 | |
| 2008 | Jun | 487 | -0.2 | 168,800 | 0.01 | 142,800 | 0.03 | 5,127 | 0.43 | 10.527 | |
| 2008 | Jul | 502 | -0.12 | 161,700 | 0.01 | 138,500 | 0.03 | 5,012 | 0.32 | 9.984 | |
| 2008 | Aug | 433 | -0.22 | 160,500 | -0.03 | 133,300 | -0.04 | 5,085 | 0.31 | 11.743 | |
| 2008 | Sep | 449 | 0.1 | 159,400 | 0.02 | 134,300 | -0.01 | 5,096 | 0.27 | 11.349 | |
| 2008 | Oct | 413 | -0.06 | 158,500 | 0.01 | 130,500 | 0 | 5,040 | 0.16 | 12.203 | |
| 2008 | Nov | 362 | -0.06 | 156,100 | -0.06 | 132,800 | -0.01 | 4,773 | 0.11 | 13.185 | |
| 2008 | Dec | 363 | 0 | 159,900 | 0.04 | 136,300 | 0.02 | 4,454 | -0.04 | 12.269 | |
| 2009 | Jan | 304 | 0.02 | -0.38 | 157,700 | -0.01 | 126,900 | -0.05 | 4,499 | 0.06 | 14.799 |
| 2009 | Feb | 326 | -0.01 | -0.35 | 152,600 | -0.06 | 130,900 | -0.02 | 4,530 | 0.04 | 13.895 |
| 2009 | Mar | 435 | 0.04 | -0.29 | 154,500 | -0.02 | 133,500 | 0.04 | 4,578 | -0.03 | 10.524 |
| 2009 | Apr | 381 | 0.3 | -0.41 | 155,500 | 0.02 | 128,100 | 0.01 | 3,982 | -0.18 | 10.451 |
| 2009 | May | 440 | 0.03 | -0.31 | 148,700 | -0.09 | 126,800 | -0.08 | 3,940 | -0.24 | 8.954 |
| 2009 | Jun | 481 | -0.01 | -0.21 | 156,300 | -0.07 | 134,500 | -0.06 | 3,749 | -0.27 | 7.794 |
The average and median home prices were also up from May 2009, but down from June 2008. The average home price was $156,300, which is 7 percent lower than June 2008’s $168,800. The median home price was $134,500 for June 2009, which is 6 percent lower than June 2008’s $142,800.
May sales up in El Paso, but prices down
June 28, 2009
El Paso’s real estate agents moved 440 homes during May 2009. This is an increase of 3 percent over May 2008, which had 429 sales. The increase is not as impressive when one considers there were 640 sales in May 2007, so there was really a 31 percent drop over the past two years, as seen in the following table.
| Year | Month | House Sales | 1 Yr Change | 2 Yr Change | Average Home Price | % Price Change | Median Home Price | % 1 Yr Change | Active Listings | % 1 Yr Change | Months of Inventory |
| 2007 | Jan | 492 | 142,500 | 124,800 | 2,554 | 5.191 | |||||
| 2007 | Feb | 503 | 151,300 | 124,000 | 2,787 | 5.54 | |||||
| 2007 | Mar | 612 | 155,100 | 129,200 | 1,272 | 2.078 | |||||
| 2007 | Apr | 642 | 150,600 | 128,100 | 3,241 | 5.048 | |||||
| 2007 | May | 640 | 152,400 | 130,200 | 3,159 | 4.935 | |||||
| 2007 | Jun | 607 | 166,400 | 138,900 | 3,589 | 5.912 | |||||
| 2007 | Jul | 573 | 160,200 | 134,200 | 3,791 | 6.616 | |||||
| 2007 | Aug | 554 | 165,300 | 138,900 | 3,874 | 6.992 | |||||
| 2007 | Sep | 409 | 156,500 | 136,000 | 4,024 | 9.838 | |||||
| 2007 | Oct | 439 | 156,400 | 130,900 | 4,337 | 9.879 | |||||
| 2007 | Nov | 387 | 166,200 | 133,600 | 4,292 | 11.09 | |||||
| 2007 | Dec | 362 | 153,600 | 133,500 | 4,625 | 12.776 | |||||
| 2008 | Jan | 299 | -0.39 | 158,700 | 0.11 | 133,200 | 0.07 | 4,254 | 0.67 | 14.227 | |
| 2008 | Feb | 328 | -0.35 | 162,800 | 0.08 | 133,800 | 0.08 | 4,374 | 0.57 | 13.335 | |
| 2008 | Mar | 419 | -0.32 | 157,900 | 0.02 | 128,700 | 0 | 4,714 | 2.71 | 11.25 | |
| 2008 | Apr | 292 | -0.55 | 152,400 | 0.01 | 126,700 | -0.01 | 4,840 | 0.49 | 16.575 | |
| 2008 | May | 429 | -0.33 | 164,200 | 0.08 | 137,800 | 0.06 | 5,155 | 0.63 | 12.016 | |
| 2008 | Jun | 487 | -0.2 | 168,800 | 0.01 | 142,800 | 0.03 | 5,127 | 0.43 | 10.527 | |
| 2008 | Jul | 502 | -0.12 | 161,700 | 0.01 | 138,500 | 0.03 | 5,012 | 0.32 | 9.984 | |
| 2008 | Aug | 433 | -0.22 | 160,500 | -0.03 | 133,300 | -0.04 | 5,085 | 0.31 | 11.743 | |
| 2008 | Sep | 449 | 0.1 | 159,400 | 0.02 | 134,300 | -0.01 | 5,096 | 0.27 | 11.349 | |
| 2008 | Oct | 413 | -0.06 | 158,500 | 0.01 | 130,500 | 0 | 5,040 | 0.16 | 12.203 | |
| 2008 | Nov | 362 | -0.06 | 156,100 | -0.06 | 132,800 | -0.01 | 4,773 | 0.11 | 13.185 | |
| 2008 | Dec | 363 | 0 | 159,900 | 0.04 | 136,300 | 0.02 | 4,454 | -0.04 | 12.269 | |
| 2009 | Jan | 304 | 0.02 | -0.38 | 157,700 | -0.01 | 126,900 | -0.05 | 4,499 | 0.06 | 14.799 |
| 2009 | Feb | 326 | -0.01 | -0.35 | 152,600 | -0.06 | 130,900 | -0.02 | 4,530 | 0.04 | 13.895 |
| 2009 | Mar | 435 | 0.04 | -0.29 | 154,500 | -0.02 | 133,500 | 0.04 | 4,578 | -0.03 | 10.524 |
| 2009 | Apr | 381 | 0.3 | -0.41 | 155,500 | 0.02 | 128,100 | 0.01 | 3,982 | -0.18 | 10.451 |
| 2009 | May | 440 | 0.03 | -0.31 | 148,700 | -0.09 | 126,800 | -0.08 | 3,940 | -0.24 | 8.954 |
Average and median are down from one year ago. May 2009 had an average home price of $148,700, which was a 9 percent drop from May 2008’s $164,200. The median price faired negligibly better, as May 2009’s $126,800 was only down 8 percent from its 2008 counterpart of $137,800.
El Paso had 3,940 active listings in May 2009. This is almost a quarter lower than May 2008, which had 5,155 active listings.
El Paso Market Still Down for April
June 7, 2009
There were 381 sales in April for the El Paso real estate market. While we have been in a poor market the sales for April were dismal. Besides April 2008 the last time we had this few sales in April was 1998. The number of sales was down from March. This is not a good sign. Usually as you move into summer the number of sales should be increasing. When sales move in the opposite direction its never a good sign.
On the positive side average prices were up 2 percent compared to last year. We have been seeing an increase in the number of listings for the last year. This month marked a change. The number of listings was down 18 percent compared to last year.
But with the expection of a drop in the number of listings overall the El Paso real estate market is still a buyers market.
| Year | Month | House Sales | 1 Yr Change | 2 Yr Change | Average Home Price | % Price Change | Median Home Price | % 1 Yr Change | Active Listings | % 1 Yr Change | Months of Inventory | 2007 | Jan | 492 | 142,500 | 124,800 | 2,554 | 5.191 |
| 2007 | Feb | 503 | 151,300 | 124,000 | 2,787 | 5.54 | |||||
| 2007 | Mar | 612 | 155,100 | 129,200 | 1,272 | 2.078 | |||||
| 2007 | Apr | 642 | 150,600 | 128,100 | 3,241 | 5.048 | |||||
| 2007 | May | 640 | 152,400 | 130,200 | 3,159 | 4.935 | |||||
| 2007 | Jun | 607 | 166,400 | 138,900 | 3,589 | 5.912 | |||||
| 2007 | Jul | 573 | 160,200 | 134,200 | 3,791 | 6.616 | |||||
| 2007 | Aug | 554 | 165,300 | 138,900 | 3,874 | 6.992 | |||||
| 2007 | Sep | 409 | 156,500 | 136,000 | 4,024 | 9.838 | |||||
| 2007 | Oct | 439 | 156,400 | 130,900 | 4,337 | 9.879 | |||||
| 2007 | Nov | 387 | 166,200 | 133,600 | 4,292 | 11.09 | |||||
| 2007 | Dec | 362 | 153,600 | 133,500 | 4,625 | 12.776 | |||||
| 2008 | Jan | 299 | -0.39 | 158,700 | 0.11 | 133,200 | 0.07 | 4,254 | 0.67 | 14.227 | |
| 2008 | Feb | 328 | -0.35 | 162,800 | 0.08 | 133,800 | 0.08 | 4,374 | 0.57 | 13.335 | |
| 2008 | Mar | 419 | -0.32 | 157,900 | 0.02 | 128,700 | 0 | 4,714 | 2.71 | 11.25 | |
| 2008 | Apr | 292 | -0.55 | 152,400 | 0.01 | 126,700 | -0.01 | 4,840 | 0.49 | 16.575 | |
| 2008 | May | 429 | -0.33 | 164,200 | 0.08 | 137,800 | 0.06 | 5,155 | 0.63 | 12.016 | |
| 2008 | Jun | 487 | -0.2 | 168,800 | 0.01 | 142,800 | 0.03 | 5,127 | 0.43 | 10.527 | |
| 2008 | Jul | 502 | -0.12 | 161,700 | 0.01 | 138,500 | 0.03 | 5,012 | 0.32 | 9.984 | |
| 2008 | Aug | 433 | -0.22 | 160,500 | -0.03 | 133,300 | -0.04 | 5,085 | 0.31 | 11.743 | |
| 2008 | Sep | 449 | 0.1 | 159,400 | 0.02 | 134,300 | -0.01 | 5,096 | 0.27 | 11.349 | |
| 2008 | Oct | 413 | -0.06 | 158,500 | 0.01 | 130,500 | 0 | 5,040 | 0.16 | 12.203 | |
| 2008 | Nov | 362 | -0.06 | 156,100 | -0.06 | 132,800 | -0.01 | 4,773 | 0.11 | 13.185 | |
| 2008 | Dec | 363 | 0 | 159,900 | 0.04 | 136,300 | 0.02 | 4,454 | -0.04 | 12.269 | |
| 2009 | Jan | 304 | 0.02 | -0.38 | 157,700 | -0.01 | 126,900 | -0.05 | 4,499 | 0.06 | 14.799 |
| 2009 | Feb | 326 | -0.01 | -0.35 | 152,600 | -0.06 | 130,900 | -0.02 | 4,530 | 0.04 | 13.895 |
| 2009 | Mar | 435 | 0.04 | -0.29 | 154,500 | -0.02 | 133,500 | 0.04 | 4,578 | -0.03 | 10.524 |
| 2009 | Apr | 381 | 0.3 | -0.41 | 155,500 | 0.02 | 128,100 | 0.01 | 3,982 | -0.18 | 10.451 |
| Year | Month | House Sales | 1 Yr Change | 2 Yr Change | Average Home Price | % Price Change | Median Home Price | % 1 Yr Change | Active Listings | % 1 Yr Change | Months of Inventory |
El Paso sees increase in home sales from February and March ‘08
April 24, 2009
El Paso saw 425 home sales in March 2009. This is a 1.4 percent increase from last March, and almost 100 homes over February 2009. March 2009 lost 30.6 percent of sales from March 2007. Although as a snapshot, the 425 sales seem positive, when one takes a look at three years worth of data, it is clear El Paso will still need a lot more sales to be in recovery.
The mean and median home prices are up over February 2009. The average price for March 2009, was $154,500. This was 2.2 percent lower than March 2008. The median price was $133,500, which is $2600 more than February 2009, and 3.7 percent higher than March 2008.